Ok guys so BTC is now down more than 2000$ since his last top at 11.8k. So where is the end of that drop ? and what will do BTC next ? First of all BTC have a gap to cover (the blue rectangle) between his last top at 9k and the price we have now (around 9.5k). BTC need to fix that gap as he always do. Bitcoin always come back to touch his last top. Also, the 50% fib retracement is a little bit under 9k and if the H&S pattern that we clearly see on the 4H chart is completed, this would bring us a bit under 9k. We have very strong supports between 8-9k zone (orange rectangle) and the 200 daily sma is at 8.5k now, so good support again. So my target for BTC is somewhere between 8-9k... Let's say that BTC could drop around 8500$ before bouncing back to retest the 12k area.
I will update you soon with new Bitcoin ideas.
Stay tuned !!!
Fred
I will update you soon with new Bitcoin ideas.
Stay tuned !!!
Fred